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Published on 7/12/2018 5:19:53 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil , Copper ,Nickel , Zinc Commodity Report Of 7/12/2018 By Geojit Financial

Posted in Commodities Reports| #Commodity Tips #Geojit Financial Services Ltd

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BULLION

GOLD

Technical Commentary

Witnessing buying sentiment likely to be preserved in the upcoming session towards the internal trend line resistance of 31230 region followed by 31380. Intraday weakness could see only below the 50-Day EMA level of 30930 region.

 

SILVER

Technical Commentary

Weakness could trigger only promising trades below the internal trend line support of 37100 towards 36800/36550. Else, holding the support of 37100 for a swing towards the upside objective of 37700 followed 38050.

 

ENERGY

CRUDEOIL

Technical Commentary

An internal trend line is placed around 3550 region, which looks to be major hurdle of for the continuation of broad weakness. If not could expect a short covering move towards the upside objective of 3685 followed by 3725.

 

NATURAL GAS

Technical Commentary

As long as prices remained below the Bollinger signal line hurdle of 310.40 could anticipate further selling pressure towards the trend line hurdle of 290 region. On the flipside, intraday buying may withstand only above 310.40 region.

 

BASE METALS

COPPER

Technical Commentary

Prices necessitate to break above the hindrance of 437.50 for the continuation of present buying move. Else hold the same for a reversal towards the Bollinger lower band support level of 427.80.

 

NICKEL

Technical Commentary

Successful trades above the immediate hurdle of 779 region could call further buying towards the upside objective of 794 followed by 809.50 region. Failed to crack above 779 could call corrective move towards the trend line objective of 750 region.

 

Zinc

Technical Commentary

Ensuing buying sentiment likely to continue towards the upside objective of 191 followed by Bollinger upper band level of 193.10 region. Intraday weakness could see only by revisiting trades below the hourly candle low of 188.35.

 

Lead

Technical Commentary

Tangible trades above the slopping trend line resistance of 141.80 may push prices towards the objective of 142.60 followed by 143.90. Inability to challenge above 141.80 could grab prices lower to Bollinger signal line support of 139 region.

 

Alumini

Technical Commentary

Present recovery move expected to persist in the coming session towards 140.40 followed by EMA level of 142. But there is equal plausible chance of dip once prices settled below the trend line support of 137.30

 

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